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COIN

Coinbase Global, Inc.Close $172.28EOD only
Max Pain
$180.00
Next expiry Sep 11, 2026
Expected Move
±$5.67
3.3% from close
Price Gap
+7.72
Distance to max pain
IV Rank
24
Low premium
P/C OI
0.71
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Sep 10, 2026 close
End-of-day snapshot

This page reflects COIN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Sep 10, 2026 close
COIN Theta Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from June 12, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness2 / 10
Sizing: Conservative
Primary: Avoid premium selling; consider hedges
Invalidation: Spot breaks above 170
Confidence:
7 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.1% from MP; +1 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV 89% vs VIX 18%
Favorable?
No

Term structure: Contango except front expiry; call skew extreme near term

⚠️High IV skew; put premium elevated
📌Spot pinned at $160 max pain

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+7.7M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (21.8% below spot)

OI concentrations: Put OI 15.5k at 125 (21.8% below); call wall 170-190

Verdict: Elevated: spot at max pain, heavy put OI below

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $143.00/$142.00 put spread
Sell 2026-06-18 $143/$142 put spread. Max gain $0.09, max loss $0.91, invalidation at $143.
Credit: $0.07-$0.09
Max loss: $0.91
BE: $142.91
Mgmt: Close at 50% profit or if spot breaks below $143; avoid holding through expiration due to pin risk.

Risk Alerts

!Expiration day pin risk
!Dealer long gamma but net short premium
How to Use These Reports
This theta reflects the market close on June 12, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.